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Australia sees 29-month growth in Bitcoin ATMs but faces scams

Australia has witnessed a continuous increase in Bitcoin ATM installations over the past 29 months, positioning itself as a rapidly developing center for the cryptocurrency market. With 1,359 machines, Australia claims 3.5% of the global share, steadily rising in the global rankings.

The rise in Bitcoin ATM numbers comes with an increase in scams. The FTC has warned users about scams leveraging the anonymity and transaction speed of these machines. Losses have reached 65 million USD, particularly affecting the elderly, highlighting the industry’s challenges.

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